Germany seized a superyacht linked to a Russian tycoon close to Putin

German authorities seized a superyacht in Hamburg after determining that it belongs to the sister of Russian Alisher Usmanov, considered “one of Putin's favorite oligarchs” and designated as his possible front man.

The Federal Criminal Police office said Wednesday that, after “extensive investigations” and despite “hiding abroad”, it was able to determine that the owner is Gulbakhor Ismailova, Usmanov's sister.

The superyacht Dilbar is flagged by the Cayman Islands and is registered in the name of a company in Malta, two banking havens where billionaires often deposit their wealth. It was launched in 2016 and had a reported cost of more than $648 million.

The police said that German authorities worked in Brussels to ensure that EU sanctions were applied to the owner. The boat can no longer be sold, rented or moved, he added.

The United States and the EU last month announced economic sanctions against Usmanov, a metallurgical magnate, for his relationship with Russian President Vladimir Putin, and in response to the invasion of Ukraine.

In early March, Italy seized a property worth about 17 million euros ($18.5 million) from Usmanov.

Usmanov, whom the United States considers the “front man” of Russian President Vladimir Putin, assured three weeks later that he put many of his assets and property in the United Kingdom into the hands of trusts before being sanctioned by that country.

The spokesman for this metal industry mogul — whose London fortune is around $18.4 billion — explained that most of his property in the UK, including a sumptuous mansion in northwest London, “were long ago transferred to irrevocable trusts.” “From that time on, Usmanov was no longer his owner (of the goods), nor could he manage them or negotiate their sale, but he could only use them for rent. He retired as a beneficiary and donated the rights of beneficiaries to his family,” he said.

(With information from AP and EFE)

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